Lingrid | AUDJPY fake BREAKOUT of the 100.00 level

Sep 28

AUDJPY formed a fake breakout of the psychological level at 100.00, reaching that level before failing and rejecting the resistance zone with the formation of a big bearish candle. Overall, the market has been oscillating between the 93.00 and 100.00 levels. Since the market has now bounced off the top of this range and has broken and closed below the upward trendline, it appears that we may see a sharp decline, potentially retesting the bottom of the range. My target is support level at 96.200


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